M&A briefs: Hainan Haiyao to take stake in SinoMab; bioMerieux partners with Quanaterix
China’s Hainan Haiyao Co has signed a letter of intent with Creator Investment and Good Catch Investments Limited, respectively for the acquisition of 250,564 common shares and 871,382 A preferred shares of SinoMab Bioscience, a Hong Kong-based company with offices and manufacturing facilities in Shenzhen.
n completion, Hainan Haiyao will hold a 40% stake in the SinoMab, which is seeking to discover therapeutic antibodies that treat life-threatening and debilitating diseases. Terms of the proposed transaction were not disclosed.
Hainan Haiyao also announced recently that it will invest $2.1 million to set up a joint venture named Hudson Biopharma in the USA with Ding Qingjie, with each to hold a 70% and a 30% stake. The joint venture will be with a registered capital of $3 million and be engaged in the research, development and sale of medicine.
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